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Is a consumer to be notified when their loan is sold to another bank?

This is a topic titled Is a consumer to be notified when their loan is sold to another bank? made in the Mortgage Talk section, belongs to our Mortgage Chat category; I bought a home in Palmdale California. I recieved my loan through Bank of America. I found out that they sold the loan to Wells Fargo and Bank of America ...








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Old October 31st, 2008, 09:06 AM   #1
Mike
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Registered: Apr 2008
Posts: 1,497
Default Is a consumer to be notified when their loan is sold to another bank?

I bought a home in Palmdale California. I recieved my loan through Bank of America. I found out that they sold the loan to Wells Fargo and Bank of America is just the service agent. Was I suppose to be notified? I was told that I was suppose to be notified and that I had 30 days to resend if I did not want it to be sold. Is this true?
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